Morrisons suitor should up offer to around $9 billion, top investor says By Reuters
LONDON (Reuters) - The U.S. private equity firm trying to buy Morrisons should increase its offer to around 6.5 billion pounds ($9 billion) to merit engagement from the British supermarket's board, according to a top ten shareholder in the retailer. Morrisons - Britain's fourth largest grocer after Tesco (LON:TSCO), Sainsbury's and Asda - this month rejected a proposed 5.52 billion pound cash offer from Clayton, Dubilier & Rice (CD&R), equivalent to 230 pence a share. "In our view there is validity to a bid...
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